Adjusted WACC. Hollydale's will issue an additional 7,000 bonds with the help of an investment banker. The bonds will be semiannual bonds with a maturity of 29 years. The coupon rate will be 8.5%, and the par value $1,000. These bonds will be sold at $944.37 in the market, but the investment banker will receive a 4.5% commission on the sold bonds. The original bonds have 11 years to maturity and are semiannual, with a coupon rate of 8% and a price of $898.99. There are 12,000 bonds outstanding from this senior issue. What is the new cost of capital for Hollydale's if the company still has 550,000 shares outstanding selling at $27.64 with an annual dividend growth rate of 2.5% and the last annual dividend of $1.30? The tax rate remains at 30%.

What is the adjusted WACC for Hollydale's if the corporate tax rate is 30% (Round to two decimal places.)